This is a message I sent to the Today programme in respect of the debt problems now engulfing the world:
Back in 1928/29 the British Government were due to repay War Loan, they defaulted, they made it ir-redeemable. Why not do the same with some of this debt, make it ir-redeemable so it is not a 'real' default, it is just we can't afford to repay you today, but we will give you a good rate of interest until we can, effectively, 'the kids can sort it out'.
What do others think, as people consider their summer holidays they will see the effects of this austerity in Europe. It is the classic he who pays the piper calls the tune, and in the meantime we have services closed around the country, yet we can bale out these other countries, it's a funny old world